Macawber Beekay expects revenue growth of 20-30%
Coal and ash handling company Macawber Beekay ...
Coal and ash handling company Macawber Beekay expects 20-30 per cent increase in its revenue in the financial year 2019-2020, with likely recovery in the power sector. In an interaction with IANS, Mr Gautam Gupta, joint Managing Director at Macawber Beekay, also said that its order book has witnessed a growth of 30-40 per cent so far in the current fiscal and noted that the power sector has started to revive after the recent instances of stressed assets.
“We are now seeing the upswing in this sector. We have crossed the period when it was at the lowest phase for the power industry. With more and more power projects being added, capaciy being added, our portion of the business is getting boost,” he said. “All the previous money which was held up as bad debt has been dealt with and certain portions have been written off. So now our balance sheets have become clear, we have even posted profits. For this financial year, we are going to easily see a growth of about 20-30 per cent.”